The national government will now merge the Uwezo Fund, Youth Fund, and Women Enterprise Fund into a single entity that is the Biashara Fund.
This will help in streamlining access to financing for small businesses and eliminate loopholes that have led to misuse, Cabinet Secretary for Co-operatives and MSMEs Wycliffe Oparanya has said.
Oparanya, who was speaking in Khwisero Sub-County during the disbursement of Uwezo Funds, said the consolidation aimed to enhance efficiency, improve resource allocation, and curb cases of individuals unfairly benefiting multiple times from different funds.
The Cabinet Secretary said some individuals have been taking advantage of the current fragmented system to access multiple loans, unfairly denying others a chance to benefit.
He revealed that there have been cases where individuals apply for the Women Enterprise Fund, then again take the Youth Fund, and later join a self-help group to secure Uwezo Fund.
“This is exploiting the system, while many others who need support remain locked out,” said Oparanya.
The CS added that the Biashara Fund will seal these loopholes by introducing a single, centralized database to track and regulate beneficiaries and ensure fair distribution of resources.
The Biashara Fund will provide affordable credit, capacity-building programs, and mentorship to youth, women, and small business owners across the country.
Merging the funds, the government aims to simplify access, reduce bureaucratic hurdles, and prevent duplication. It will ensure a more efficient, transparent, and impactful financial support system for small businesses.
The new entity is expected to officially be rolled out in the coming months with clear guidelines on how it will function.
By Obegi Malack
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